March 20, 2019

We launched and we got traction. Now what?...

TL;DR: We launched an iOS app without monetization. We got some traction but now we have to prioritize: improve the product or validate the business model.

A little bit of context:
We are building an iOS app to follow eSports (League of Legends in particular). We launched and we just reach to 200 monthly active users. Our retention seems good: 40% D1, 21% D3 38% D8 [https://imgur.com/WIZt1qX] (matches are played weekly that's D8 is so high) but now we have to make a choice. We have a very limit effort and we don't know if we should invest it in improve the product (we have a lot of ideas) or try to validate the business model with an early monetization.

What do you think?

  1. 3

    What are your assumptions and what would is your plan? You can create an amazing app, get users and try to find investment or sell it. Can you work 1-2 years on an app without making any money?

    I've done a mistake like this. I told myself that I will monetise once my app will reach 1000 users that have the app on their phone. Once I added ads and in-app purchases the daily active users went from 60 to 5 users and maybe I made like $70. I wrote about my failure here: https://hackernoon.com/10-months-of-work-and-less-than-70-why-monetizing-an-app-from-the-beginning-is-very-important-676de6fb555f

    If you wanna have a chat, let me know. I'm more than happy to try and help you out with my advice and my past experience.

    1. 2

      At least you got some money. I once asked a user whether users in general would purchase answers to the exercises I post on my platform. She said yes and said it was affordable and of high quality.

      I then went to say I would charge her $5, which she then said no. Smh.

      1. 1

        Haha it happened to me so many times. She was not your target market. Anyway, iOS are more happy to pay for something than Android users.

    2. 1

      Thanks a lot for sharing your own experience. I've just read the blog post and is self-explanatory even though I feel like my project is a little bit different (probably all people think like that lol)

      I would love to share more details with you if you don't mind to expend some time helping me. How can I contact you?

      1. 1

        My Twitter is: https://twitter.com/theivandrag or LinkedIn: https://www.linkedin.com/in/dragosivanov/ . Send me a message and I will give you my Whats App or Telegram to chat. Thanks

  2. 2

    I'm a product guy, so my guts is telling me to improve and optimize it, make it grows bigger and the money will come later, somehow hopefully. 😂

  3. 2

    validate the business model testing different ways

  4. 1

    What is the riskiest assumption for the business? Start with validating that :)